Mardi Dier Sells 1,183 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CFO Mardi Dier sold 1,183 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $427.21, for a total transaction of $505,389.43. Following the transaction, the chief financial officer owned 9,257 shares in the company, valued at approximately $3,954,682.97. This trade represents a 11.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mardi Dier also recently made the following trade(s):

• On Tuesday, December 2nd, Mardi Dier sold 4,173 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $578.34, for a total transaction of $2,413,412.82.

Madrigal Pharmaceuticals Trading Down 2.2%

NASDAQ MDGL opened at $425.85 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00. The company has a fifty day simple moving average of $502.62 and a two-hundred day simple moving average of $487.13. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56. The stock has a market cap of $9.77 billion, a P/E ratio of -33.09 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). The firm had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. Madrigal Pharmaceuticals’s revenue was up 210.8% on a year-over-year basis. During the same period in the previous year, the company earned ($2.71) earnings per share. On average, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Ratings Changes

MDGL has been the topic of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, January 22nd. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. Finally, HC Wainwright increased their price target on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $685.31.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in MDGL. AlphaQuest LLC increased its holdings in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $29,000. Mather Group LLC. purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $33,000. Global Retirement Partners LLC raised its holdings in Madrigal Pharmaceuticals by 221.7% in the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 51 shares during the period. Finally, First Horizon Corp acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $34,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.